Raising Money from Corporate Sponsors Takes Time

Raising Money from Corporate Sponsors Takes Time

Corporate sponsorship is a long tail strategy not a fast financial solution. And it takes time.

It can take MONTHS to close a sponsorship deal. Most folks aren’t successful because they step away just before the deal gets into the closing stage–presuming a sponsor is stalling or disinterested when in fact, there are internal meetings, bottlenecks and sign offs that have nothing to do with you/your brand. I’ve seen the sponsorship industry evolve a great deal over my 18 years of doing this work. What hasn’t changed is that from start to finish, it can take seven to ten transactions for a sponsorship deal to close. Trust the process. A few steps to closing faster:

How to Speed Up the Corporate Sponsorship Closing Time

Don’t inundate your prospect with loads of materials. This strategy gives you a reason to follow-up, and a chance to cater to the sponsor’s interests.

Once you’ve officially made your sponsorship “ask” listen and agree to next steps and timeline for decision-making.

Once you get a YES, make sure you send your sponsor a confirmation letter that reiterates the details of your agreement.

Be pleasantly persistent. If you haven’t received a rejection letter, “no” your deal may not be dead. Hang in there and don’t give up because deals take time.

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